Moody’s gives STV, loan B2

Moody’s Investors Service said it assigned B2 ratings to the STV Group Inc.’s proposed $55 million senior secured first-lien revolver and $225 million senior secured first-lien term loan. This is the first time Moody’s has rated STV.

Moody’s also assigned a B2 corporate family rating and B2-PD probability of default rating.

Term loan proceeds and new equity from the Tom Pritzker Family Business Interests, advised by The Pritzker Organization, LLC, will be used to finance the acquisition of a majority position in STV, cover related fees and expenses and provide opening cash to the balance sheet.

“STV’s exposure to infrastructure spending growth in the U.S. public sector is the principal driver of the credit rating,” said Andrew MacDonald, Moody’s lead analyst, in a press release.

The outlook is stable.

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